News and Information from Bond Buyer

Providence, R.I., which two years ago faced what Mayor Angel Taveras called a "Category 5 Fiscal Hurricane," reported a $1.6 million surplus for fiscal 2013.

The nation's governors support maintaining the tax exemption for municipal bonds, though tax reform appears to be unlikely this year, leaders of the National Governors Association said Wednesday.

The Financial Industry Regulatory Authority has fined four firms a total of $290,000 for violations of municipal securities rules, including E. J. De La Rosa & Co., which was hit with a $200,000 fine for improperly using bond proceeds to reimburse itself for payments to a lobbying group.

A state court ruling stopping California from selling $8 billion of bonds for high-speed rail could result in a cutoff of billion in federal matching funds as well.

Metro-North estimated damage from the deadly commuter train derailment in the Bronx at more than $9 million, said a preliminary report from a federal agency.

Six firms have responded to Indiana's request for qualifications to partner with the state for the $1.3 billion Illiana Corridor toll road connecting Indiana and Illinois, officials said Tuesday.

The Nevada Board of Finance on Tuesday approved a $100 million bond to help fund a $1 billion highway widening project on a nearly two-mile stretch of Interstate-15 that provides access to major Las Vegas resorts.

Harrisburg would exit receivership while remaining under state oversight under a plan by Pennsylvania officials.

Judge Steven Rhodes will rule Thursday afternoon on Detroit's interest-rate swap settlement in one of the most closely watched decisions of the city's historic bankruptcy case so far.

Moody's Investors Service said it has downgraded St. Joseph's Hospital Health Center, N.Y.'s rating to Ba2 from Ba1.

Moderate expansion with a positive outlook was reported by most regions, according to the Federal Reserve's Beige Book report, released Wednesday.

Recent negative outlooks and downgrades of Miami-Dade County's bonds have led County Commissioner Juan Zapata to seek revised budget policies that consider ratings impacts.

Cook County, Ill. is coming to market Thursday with $130 million of refunding bonds, marking the largest general obligation bond offering from an Illinois issuer so far this year.

The State of Washington is planning to sell $717 million of general obligation bonds in a three-part competitive offering next week.

The municipal market secondary has quieted as managers of the week's largest deal held a second retail order period.

Low inflation suggest it will be "appropriate" to keep the Fed funds rate low for "quite some time," according to Federal Reserve Bank of Chicago President and Chief Executive Officer Charles L. Evans, who backed a change in forward guidance to show the Federal Open Market Committee is "in no hurry to raise rates."

After nearly 40 years practicing law at Chapman and Cutler LLP, James Spiotto is leaving the courtroom to launch a new Chapman-owned consulting business to focus on municipal finance and Chapter 9 bankruptcy.

Wednesday's session opened with moderate trading in the municipal bond market, giving it a solid tone.

Fort Worth Independent School District issued the first $123 million from a $490 million bond authorization approved by voters last November.

Arkansas Gov. Mike Beebe proposes increased spending for education and prisons under a $5 billion budget.